February 3, 2023
According to MuleSoft’s 8th annual Connectivity Benchmark Report, today’s tech leaders want more from IT and have increased their average IT investment to $11.7 million.
The conclusion was reached after survey responses from 1,050 IT leaders worldwide who hold a managerial position or higher in an IT department and work at a public or private enterprise organization with at least 1,000 employees.
According to the report, IT is delivering more because the leaders interviewed are investing in efficiency and believing in it. Leaders want more from IT, so their average IT investment has risen to $11.7 million. IT has since been able to meet business demands. The leaders are not giving up as 78% of them say IT budgets will continue to increase over the coming year.
In addition, IT infrastructure is becoming more efficient. Change and the introduction of new technology are difficult for half of the leaders polled. The main takeaway is that IT teams can complete more projects on time. Approximately 48% of respondents say they completed every project assigned to them, up from 44% the previous year. There was also a decrease in the average number of projects delivered late, which is 30% this year compared to 52% last year.
The number of IT projects continues to grow. Business leaders are expecting more from their IT teams as a result of this increased investment. As a result, the number of projects assigned to IT increased 41% year on year, roughly the same as the previous year (40%).
The sources for this piece include an article in ZDNet.
